Alan Greenspan

With Alan Greenspan being forced to retire in 2006 it will be interesting to see who President Bush puts in his place. Greenspan is a legend, having been at the federal reserve for almost 18 years. It is said that there may be two candidates: Martin S. Feldstein and R. Glenn Hubbard. Feldstein may have a tendency to butt heads with Bush and is said may not be the one to take Greenspan's place. Hubbard worked with Bush before and may be more likely but only time will tell. Greenspan's place will be a hard one to take over. Greenspan has had his own unique risk management method of getting things done. The way he does things cannot just be picked up by the next person to come in. Greenspan is almost a one man show but it will not work that way for the next person. Greenspan has been really good for the United States' economy. Who knows where the nation would be economically if he was not in charge of the Fed. The Fed is more open since Greenspan has been there and the whole structure of the Fed has changed. It will be an economic shock when Greenspan has to leave the Fed.

1 comment:

Dr. Tufte said...

-1 for not capitalizing Federal Reserver Lisa.

I'll add one more name to the list: Ben Bernanke. He is a Princeton professor who is currently on leave to be a governor of the Federal Reserve System. I think he also wants the job.

Feldstein seems out of the loop to me.

Hubbard did very well when he worked in the White House; he may see this as a way to boost his image along the lines of what Lawrence Summers did during the Clinton administration.